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>> greece will definitely have on to do restructuring. the question is do they get one as part of a deal or do they take one. >> worth pointing out george will be joining us later on set. meanwhile, the ecc president draghi has been vowing to back the eurozone. he's announced proposals be put ford to deal with bank risk in the first half of next year. >> protests are take being operati taking place in athens ahead of a visit of merkel. merkel insisted she was also there to to offer the greeks her support. cath ly carolyn roth is in and thens. when i left, she was carolyn schobel. thank god it's roth now. >> thank god i got married, right? i'm extending my honeymoon. >> we know that's what the security is there for. >> right. i was going to say i was extending my honeymoon. i went to greece without my husband, though, one person who is not on honeymoon, that's ms. merkel. she's arriving here as you said in a little bit more than two hours. and the reception here is less than luke warm because two biggest unions here in greece have actually
>> greece will definitely have on to do restructuring. the question is do they get one as part of a deal or do they take one. >> worth pointing out george will be joining us later on set. meanwhile, the ecc president draghi has been vowing to back the eurozone. he's announced proposals be put ford to deal with bank risk in the first half of next year. >> protests are take being operati taking place in athens ahead of a visit of merkel. merkel insisted she was also there to to...
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Oct 9, 2012
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the thing is if they support greece, they will give greece more money. greece needs more money. understand that right now greece is asking for a third bailout. greece says we need more time to hit our deficit targets. well, time is money. they have to borrow every single day. if they can't pay the bills, the money has to come from somewhere. so if it is going to be two years more before they balance the budget, somebody has to fill the hole. it doesn't mean the germans or the rest of europe will write the check. what a lot of individuals believe will happen is there will be a back door bailout via the ecb. remember, greece still owes the ecb 25 billion euros roughly over the next three years that really like the ecb to delay receiving payment. that's not going to happen. at least it is highly unlikely. what's likely to happen, carl, is greece to going to go to the short-term markets. they're going to issue t bills or short-term notes and their banks will buy them and bring them to the greek central bank and the greek central bank will bring them to the ecb and they will be paid
the thing is if they support greece, they will give greece more money. greece needs more money. understand that right now greece is asking for a third bailout. greece says we need more time to hit our deficit targets. well, time is money. they have to borrow every single day. if they can't pay the bills, the money has to come from somewhere. so if it is going to be two years more before they balance the budget, somebody has to fill the hole. it doesn't mean the germans or the rest of europe...
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Oct 15, 2012
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greece has said it will run out of money by the end of november. greece has admitted the coughers run dry at the end of november. we are aware that the efforts have been successful in stabilizing italy. at least interest rates in spain seem to have been somewhat contained. why are we debating whether or not greece should be allowed to eat up and not follow more osterity? another argument is that it could set up a domino effect. every few months greece says it is about to run out of money again. then we debate if austerity should be effective. are we delaying the inevitable that greece will exit at some point because it can't pay its bills? perhaps but maybe it could help stabilize, as well. before we go take a look at the day on wall street. financials and health care led the way to a 95 point
greece has said it will run out of money by the end of november. greece has admitted the coughers run dry at the end of november. we are aware that the efforts have been successful in stabilizing italy. at least interest rates in spain seem to have been somewhat contained. why are we debating whether or not greece should be allowed to eat up and not follow more osterity? another argument is that it could set up a domino effect. every few months greece says it is about to run out of money again....
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Oct 9, 2012
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joe mentioned greece. demonstrators were back in the streets of athens yesterday protesting against government austerity cuts. pensioners clashed with riot police and burned an eu flag. german chancellor angela merkel is scheduled to arrive in athens at about 6:30 eastern time today for a six hour visit. police banned protests in most of central athens and 6,000 officers are trying to keep control. this is merkel's first stop will greece since the debt crisis kree resulted back in 2009. and carolyn roth will be joining us live. >>> and both president obama and mitt roy in will be in ohio today. voters in the swing state are getting their last chance to register for next month's election. the polls are now all over the map. pew has romney up four points, but gallup says the positive jobs report gave president obama a five point boost. among our guests, ken langone and donald trump. and focusing on issues of foreign policy and national security, we have senator john mccain. and by the way, if you went to sle
joe mentioned greece. demonstrators were back in the streets of athens yesterday protesting against government austerity cuts. pensioners clashed with riot police and burned an eu flag. german chancellor angela merkel is scheduled to arrive in athens at about 6:30 eastern time today for a six hour visit. police banned protests in most of central athens and 6,000 officers are trying to keep control. this is merkel's first stop will greece since the debt crisis kree resulted back in 2009. and...
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Oct 15, 2012
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said they're considering giving greece more time. and he also suggests spain saying madrid is open to considering a bailout request. >> it was another weekend of protests on the streets of madrid with thousands demanding an end to austerity. and on the sidelines of the imf meet i can't 20ek i can't, spain's finance minister signaled the government would hold back on requesting a bailout. still ecb member told the "wall street journal" spain shouldn't wait for the market to pressure it into asking for aid. and austerity protests also took place in lisbon. more demonstrations are expected today as the portuguese government presents its 2013 budget and measures are expected to include enormous tax hikes on the middle class and financial transaction tax. >> we're still monitoring of course this softbank conference, as well. they say they will continue to focus on early net reduction. no equity financing has been used and no change in the company's dividend policy. >> and they say the combined company will have 96 million users. and this
said they're considering giving greece more time. and he also suggests spain saying madrid is open to considering a bailout request. >> it was another weekend of protests on the streets of madrid with thousands demanding an end to austerity. and on the sidelines of the imf meet i can't 20ek i can't, spain's finance minister signaled the government would hold back on requesting a bailout. still ecb member told the "wall street journal" spain shouldn't wait for the market to...
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merkel going to greece, but spain really is what we need to be focused more on. do you agree with that? >> much bigger, much bigger in size. greece, in the end, is the bigger pictures that we see on television, but when it comes to the actual amount of money, the european union could actually handle that cost. spain is much, much bigger. >> thank you, michelle. simon, over to you. >> also watching, as you will be aware, sue, apple, very closely today. shares officially in correction territory, down 10% from the record high we had. the closing high of $702 back in september 19. a lot of people feeling the pain there. right now, you can see we trade 634.41. we will talk about apple later in the show, sue. >> indeed. we could be entering, simon, the weakest earnings season this market has seen since 2009. yum brands, which is down about two-thirds a percent today is setting the table for the restaurant industry. it also reports its results after the bell. the stock is up 13% this year, even though in today's downside trading session it is down 43 cents. so, what can
merkel going to greece, but spain really is what we need to be focused more on. do you agree with that? >> much bigger, much bigger in size. greece, in the end, is the bigger pictures that we see on television, but when it comes to the actual amount of money, the european union could actually handle that cost. spain is much, much bigger. >> thank you, michelle. simon, over to you. >> also watching, as you will be aware, sue, apple, very closely today. shares officially in...
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Oct 9, 2012
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we've certainly seen it in greece. we haven't heard much about it recently, but here it's very much in evidence as she goes there to -- actually, ironically, praise them for what she sees as progress. >> it feels like things are getting worse on the unrest side of the coin throughout europe. it's once again that, you know, manifestation of something's got to give. they don't want to see the cuts happening. yet, they're not going to be able to pay their bills without the cuts happening. >> and it will only get worse, i think, as time goes on. more of the austerity measures take hold and the reality sets in further. >> as the people feel the effects of, okay, this program is cut, that program is cut. >> here in the u.s., one debate is whether to reform and simplify our tax code to spur growth. is it going to be austerity like in europe or growth measures of some favor here? >> today, senator chuck schumer throwing cold water on the plan. >> it would be a huge mistake to take the dollars we gain from closing loopholes and
we've certainly seen it in greece. we haven't heard much about it recently, but here it's very much in evidence as she goes there to -- actually, ironically, praise them for what she sees as progress. >> it feels like things are getting worse on the unrest side of the coin throughout europe. it's once again that, you know, manifestation of something's got to give. they don't want to see the cuts happening. yet, they're not going to be able to pay their bills without the cuts happening....
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Oct 2, 2012
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. >>> the first real privatization deal in greece in recent history. the greek government is selling a state run enterprise to a private company. is this a sign of things to come or symbolic gesture? find out as the third hour of "squawk box" starts right now. ♪ >> we talk a lot about, yeah, welcome back to "squawk box" here on cnbc. that was like ten minutes about general growth. first in business worldwide. i'm joe kernen, this is the lovely and intelligent becky quick. >> thank you. >> handsome and dashing andrew ross sorkin is here. guest host billionaire sam zell, chairman of equity group investments. when i was a stockbroker i bought itel, people thought it was intel my clients were confuse. >> they did better in itel an intel. >> rusty rail cars no one was using until the economic economy so they're probably rusty again. also coming up our hunt for value theme continues, activist investing in portfolio strategy with cliff robbins, ceo of blue harbour group. i like jack in the box, qdoba and i like chico's. i don't like burger king. they can't
. >>> the first real privatization deal in greece in recent history. the greek government is selling a state run enterprise to a private company. is this a sign of things to come or symbolic gesture? find out as the third hour of "squawk box" starts right now. ♪ >> we talk a lot about, yeah, welcome back to "squawk box" here on cnbc. that was like ten minutes about general growth. first in business worldwide. i'm joe kernen, this is the lovely and...
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Oct 11, 2012
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>> the way of greece in which sense? >> in the sense of protests, a real ripping at the social fabric. >>. >> i don't have a krystal ball, but what i see is that the biggest protests until now has been huge ly was 6,000 people i a country of 44 million. and i also know spain overwhelming voted a year ago go. and it's not because the leader is sim patty company orem empathize. not at all. spaniards know that we have to go through a program of rebalancing. we have to expect these reactions. but to we expect raise of the extremism as the nazi party, honestly, i don't see any sign. do i expect demonstrations, yes, of course i do. because i think that it would be frankly as of today, what you would say is that i admire the voice of the spanish people at large. >> and also speaking, morris cramer blamed the downgrade on the continuing recession and also on the backtracking by some european governments. and he said this was in supporting using the esm to directly recapitalize spanish banks. >> the perceived commitment of eurozo
>> the way of greece in which sense? >> in the sense of protests, a real ripping at the social fabric. >>. >> i don't have a krystal ball, but what i see is that the biggest protests until now has been huge ly was 6,000 people i a country of 44 million. and i also know spain overwhelming voted a year ago go. and it's not because the leader is sim patty company orem empathize. not at all. spaniards know that we have to go through a program of rebalancing. we have to...
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Oct 8, 2012
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he's the man greece hired to restructure its debt back in march. he's done russia, iraq, he's been on the front lines have lines of negotiations for financially challenged nations for close to 40 years. what does he think about the fiscal problems here in the united states? he says we want our kids to not hated us, we better do something about it now. good to have you here. >> thank you. >> are we overstating it? are we in the united states spending so much that we can be problematic, like europe? >> we have one great advantage over europe. we borrow only in our own currency. so, an unsustainable debt burden for this country has an escape valve that europe never had, which is inflation. but the answer to your question is, will future generations be cursing us for our profligacy. i am sure they will. >> why? >> because they'll have to pay higher taxes, lower standard of living or endure the inflation that must be used to render that debt stock sustainable. >> they say u.s. could eventually grow its wait way out of this debt problem. >> that's always
he's the man greece hired to restructure its debt back in march. he's done russia, iraq, he's been on the front lines have lines of negotiations for financially challenged nations for close to 40 years. what does he think about the fiscal problems here in the united states? he says we want our kids to not hated us, we better do something about it now. good to have you here. >> thank you. >> are we overstating it? are we in the united states spending so much that we can be...
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we will also listen to the latest interim report of the troica on greece. what we've heard out of athens progress has been made, but no agreement, so we might hear a little bit about greece. and of course they look at the report about banking supervision and banking unions. so they have plenty on their plate. but in terms of results, i think the esm is the best we can hope for and that would of course be an important step at least. >> all right, silvia, you'll join us again in about 20 minutes or so, so we'll see you for that. meanwhile we're just over an hour and 20 10 minutes in to the trading day and we're pretty much weighted to the down sides after gains last week. only about 30 odd stocks that are in positive territory. positive if you're long in the markets. those of you who are short, that wouldn't be so positive. ftse 150 up 2.25% last week. currently down 0.75%. xetra dax up 2% last week. currently down 1.4%. the contact 340 laac 40 last we, ibex down 1.07%. we were below 6% with spain on friday. similar levels. we also have these interesting stat
we will also listen to the latest interim report of the troica on greece. what we've heard out of athens progress has been made, but no agreement, so we might hear a little bit about greece. and of course they look at the report about banking supervision and banking unions. so they have plenty on their plate. but in terms of results, i think the esm is the best we can hope for and that would of course be an important step at least. >> all right, silvia, you'll join us again in about 20...
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think a possibility women start resemble greece, as it is right now? >> these are studies, mandy, from the imf and the cb. >> the congressional budget office and the bis, you know, these are all in unison, says, this isn't pimco's opinion, but their opinion, that basically says fiscal gap of 8, 9, 10%, actually an 11% average which is $1.5 tral year, these are their numbers, basically say unless we start to reduce these numbers that, yes, we can be downgraded, that yes, you know, ultimately, inflation and a lower dollar and ultimately, as i mentioned, you know, bonds being burned to a crips and stocks being singed all as a result, you know, basically of too much debt relative to gdp, inn ability or unwillingness to alleviate a condition. >> the road which the can can be kicked down, bill surks long, we are finding out. debt going up and the appetite for u.s. treasuries seems to be growing as well, a lot of that from our own fed to, of course. i ask you, when does come to roost? is there a breaking bad point, we can say november 12, 2022? a lack of fund
think a possibility women start resemble greece, as it is right now? >> these are studies, mandy, from the imf and the cb. >> the congressional budget office and the bis, you know, these are all in unison, says, this isn't pimco's opinion, but their opinion, that basically says fiscal gap of 8, 9, 10%, actually an 11% average which is $1.5 tral year, these are their numbers, basically say unless we start to reduce these numbers that, yes, we can be downgraded, that yes, you know,...
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merkel in greece. when does the currency experts such as yourself expect spain to officially ask for a bailout? >> there is interesting developments taking place here, scott. the market is starting to think what merkel may be playing here is something a lot bigger, something that includes an extension of debt for greece, a bailout to cyprus and spain as one package. now, she would then take that and not get that done in october. she also needs to take the troica report, first. it is increasingly likely that october may be frustrating for the market and may be more likely november, and i think what we get as a result is perhaps a dip in the euro this month followed by a smart rally in november and the market might be surprised at the sheer strength of it. that theory is gaining a lot of power in the market now. >> the euro is certainly not if not resill yant over the last three, four weeks. if you want to make your best trade now would you stay away from euro dollar and look where else. >> i think there
merkel in greece. when does the currency experts such as yourself expect spain to officially ask for a bailout? >> there is interesting developments taking place here, scott. the market is starting to think what merkel may be playing here is something a lot bigger, something that includes an extension of debt for greece, a bailout to cyprus and spain as one package. now, she would then take that and not get that done in october. she also needs to take the troica report, first. it is...
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national bank of greece and efg in discussion there's. these two guys here have tried to do a deal twice and it's fallen through but now alpha bank is off to buy the french bank, selling out locally. those bank stocks have done well and greek stocks in general have done well again today with angela merkel now arriving on tuesday. threw see the gains. if you look on the blue chips, telecom for example, if you look for the week overall, american equity market, the dow is up 1.5% for the week. top 50 blue chips in europe are up 3%, double of the gain for the week overall. look at where greece has gone. a gain of over 12% there on the ase. let me just show you the mining stocks. they were rallying in london. next week china will come back from the golden week holiday. china growth reflation discussion. i don't know why they are gaining. it might be you were short coming in anticipation of some china but i'm making that up. let's show you finally what's happening in motor on the tip of spain a big meeting of leaders and we did half an hour, sp
national bank of greece and efg in discussion there's. these two guys here have tried to do a deal twice and it's fallen through but now alpha bank is off to buy the french bank, selling out locally. those bank stocks have done well and greek stocks in general have done well again today with angela merkel now arriving on tuesday. threw see the gains. if you look on the blue chips, telecom for example, if you look for the week overall, american equity market, the dow is up 1.5% for the week. top...
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angela merkel is set to visit greece in a visit likely marked by protests. merkel will meet with the country's prime minister to show support for his coalition government but greek citizens are upset with merkel for her criticism of the country's fiscal situation over the past few years. >>> and apple fire foxconn denying work stoppage. there were several disputes between assembly line workers and quality control personnel but said those disagreements did not stop production. becky? >>> there obviously is big momentum swings for the obama and romney campaigns but we have a long way to go before november 6th. joining success former virginia governor james gill momore, a ry surrogate and former pennsylvania governor ed rendell. good morning, gentlemen. >> good morning. >> we've been watching some of the polls coming out this morning and over the weekend and they show a significant swing after the debate, gallup poll in the post debate october 4th through the 6th on the polling they did see that at least at this point they have romney and obama tied at 47-47, a
angela merkel is set to visit greece in a visit likely marked by protests. merkel will meet with the country's prime minister to show support for his coalition government but greek citizens are upset with merkel for her criticism of the country's fiscal situation over the past few years. >>> and apple fire foxconn denying work stoppage. there were several disputes between assembly line workers and quality control personnel but said those disagreements did not stop production. becky?...
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now greece coming to market, as well. they've sold about 1.6 billion euros of 13 week bills. the yield 4.24%, down by about six or seven basis points from the last time they went to market. bid to cover ratio down, as well. 1.9% and for what it's worse, that sale did include a 30% tranche that was noncompetitive. not a bad return for a 13 week period of time. but that doesn't explain why there weren't as many investors interested. >>> a deal could see appointed to the board of governors by the end of the week. the appointment was held up because of his gender. twitter is currently searching to add a woman to it all male board. the micro blogging platform has been interviewing potential candidates, but then have been selected so far. major tech companies like google, apple and microsoft all have women on their boards. and one high profile female executive, marissa mayer, is back in the office at yahoo! after taking just two weeks for maternity leave. she announced her return on twitter yesterday and wasted no time in making a big splash. she's hired a former google co-worker t
now greece coming to market, as well. they've sold about 1.6 billion euros of 13 week bills. the yield 4.24%, down by about six or seven basis points from the last time they went to market. bid to cover ratio down, as well. 1.9% and for what it's worse, that sale did include a 30% tranche that was noncompetitive. not a bad return for a 13 week period of time. but that doesn't explain why there weren't as many investors interested. >>> a deal could see appointed to the board of...
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Oct 31, 2012
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. >>> finally not to throw in greece, but have you noticed greece is down how many days? several days in a row. it is now 10% off of its recent highs. that coalition there is looking a little frayed. >> just to come back to the fact we're starting everything up again, what do you make of knight capital and its inability again to function adequately? >> jersey city and -- this is a place i know very well, of courseflooding and power outages. knight had a back-up generator today that failed. that's something they don't need right now. they did the right thing routing their orders away from them and immediately notifying all of their clients but still a very difficult situation for them. >> thanks, bob. bob pisani. we'll watch the close. it is the last day of the month. >>> let's hit on the bond pits now where treasuries are fully trading. rick santelli has the very latest from chicago. >> let's actually start with that chart bob just showed. there's a stock story to the fixed income markets as well. a little after noon, you see that dip in stocks. if you go to intraday ten,
. >>> finally not to throw in greece, but have you noticed greece is down how many days? several days in a row. it is now 10% off of its recent highs. that coalition there is looking a little frayed. >> just to come back to the fact we're starting everything up again, what do you make of knight capital and its inability again to function adequately? >> jersey city and -- this is a place i know very well, of courseflooding and power outages. knight had a back-up generator...
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Oct 15, 2012
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greece may not get kicked out but there are still large hurdles for greece to go through. you see that breakdown between merger talks and airbus last week. >> what levels would you move yo euro/dollar? >> i think 1.29 on the downside and 1.30 on the upside. ideally say 1.30, stop above 1.31. looking for a move that will eventually bring us down to 1.26 before the end of the year. >> mark chandler, thanks. catch more currency trades on cnbc's "money in motion" every friday at 5:30 p.m. eastern time. >>> up next, the biggest pops and drops in today's session. >>> cnbc's seema mody trades your tweets. >> have no fear, the cnbc tweet patrol is here. that's coming up next on the halftime report where we trade your treats. stick around. >>> welcome back. you've got questions, well, our traders have the answers. seema mody joins us with your tweets today. >>> let's get right to it. tobacco giant altria is moving lower. is this strictly a yield play? you clearly don't go to the space for high growth. >> you don't go for growth. but this stock has gone from roughly $36 down to $32.
greece may not get kicked out but there are still large hurdles for greece to go through. you see that breakdown between merger talks and airbus last week. >> what levels would you move yo euro/dollar? >> i think 1.29 on the downside and 1.30 on the upside. ideally say 1.30, stop above 1.31. looking for a move that will eventually bring us down to 1.26 before the end of the year. >> mark chandler, thanks. catch more currency trades on cnbc's "money in motion" every...
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they could have 15 perfect meetings in a row. >> greece will stay now, people think greece will stay now. >> i think the jury's out. there's huge interest rate and currency risk in investments with regard to our treasuries, and you better expect that china and some of these other countries are going to start looking to corporates, they're going to start moving away. watch it. >> but we won't see it until qe3, until -- >> we are in a bubble, we don't have real interest rates right now, we don't really know what real interest rates are. >> that's a good point and the point we make as well. all the qe3 and the monetary policy not just in the u.s. but also europe is making interest rates below the level of inflation. that's not normal and that's one of the main reasons why you want to be allocating to areas of the market where the government and the fed and the balance sheets are not using their balance sheet to repress those interest rates where you get a fair amount of compensation with the ritzing that you're taking. >> that's your analogy if you jump from a 50-story building you thin
they could have 15 perfect meetings in a row. >> greece will stay now, people think greece will stay now. >> i think the jury's out. there's huge interest rate and currency risk in investments with regard to our treasuries, and you better expect that china and some of these other countries are going to start looking to corporates, they're going to start moving away. watch it. >> but we won't see it until qe3, until -- >> we are in a bubble, we don't have real interest...
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are we going to be bailing out greece? all these issues are on the table. >> romney has a big debt problem himself. once again, we can argue about this. i really don't think ever has a good argument for how the heck are you going to pay for your $5 million cash cow. >> i think he did a great job in the first debate. i think the cap on deductions, the economic growth incentives is a great job and the spending cuts are great job. the troublesy didn't hear it tonight. i didn't hear it tonight. >> take a quick break. coming up next, the fact checker scott cohn and his team on the case. we'll see if the president and governor romney were telling the truth, or not, scott. >> i guarantee that the economic part. >> we'll be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america.
are we going to be bailing out greece? all these issues are on the table. >> romney has a big debt problem himself. once again, we can argue about this. i really don't think ever has a good argument for how the heck are you going to pay for your $5 million cash cow. >> i think he did a great job in the first debate. i think the cap on deductions, the economic growth incentives is a great job and the spending cuts are great job. the troublesy didn't hear it tonight. i didn't hear it...
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Oct 18, 2012
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crucial for countries like greece, you but also perhaps, too, for spain. so that certainly will fall apart. but there's other issues. the timing on this, this is expected to come into play by january 2013 yet already hearing discussion that this could take up to a year to organize. there was a report, too, in the financial times suggesting that the current proposals might even be illegal based on how the ecb can make decisions. it might also mean that for the countries outside the eurozone that can choose to opt into this oversight plan, they might not be able it legally vote on the decisions that the ecb makes. guys, back to you. >> julia, thanks very much for that. neal, your thoughts on the importance of this summit or whether you agree with hollande that it's over. the debt crisis is solved. >> it's wishful thinking. i think everyone would like to be over because it's been a major down side risk for too lon. the problem is that the summits that we've had during the course of the crisis have always been great fanfare, the silver bullet to resolve the de
crucial for countries like greece, you but also perhaps, too, for spain. so that certainly will fall apart. but there's other issues. the timing on this, this is expected to come into play by january 2013 yet already hearing discussion that this could take up to a year to organize. there was a report, too, in the financial times suggesting that the current proposals might even be illegal based on how the ecb can make decisions. it might also mean that for the countries outside the eurozone that...
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Oct 22, 2012
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meanwhile greece just a few weeks from asking for its next tranche of aid. and it looks like there's a rawl brewing between her kell and cameron. the ft suggests germ any may push to have next month's european budget summit canceled if britain insists on vetoing any deal other than a total freeze on spending. berlin is working hard to convince the uk to back a german compromise that would cap spending at 1% of the region's total gdp. james, how did do we trade for the ongoing maturations of the eurozone debt crisis? >> you can wholly understand there's a big issue about whether or not there should be money made available for fresh problems or simply to alleviate old problems. it doesn't really matter what debt is priced at in the markets in terms of the coupons. what's important is what you have to issue new debt at and what the debt service cost would then be. and i suspect that we have 18 months of time off in euro land because the ecb essentially can write checks for that period and the real crunch is in 18 months time when the ecb is expecting continued
meanwhile greece just a few weeks from asking for its next tranche of aid. and it looks like there's a rawl brewing between her kell and cameron. the ft suggests germ any may push to have next month's european budget summit canceled if britain insists on vetoing any deal other than a total freeze on spending. berlin is working hard to convince the uk to back a german compromise that would cap spending at 1% of the region's total gdp. james, how did do we trade for the ongoing maturations of the...
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Oct 12, 2012
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first let's have a look at the map as we count you out on the close, greece is higher, greece on the bottom right-hand corner, 30.2% gain. everybody else is in the red. here are some of the movers of the day. might be from what you got from lagarde in tokyo suggesting greece should be given more time. hel helenic and national bank of greece in positive territory. the reason you have the outperformance is because they fell so hard earlier in the week. in fact the ase as we got the announcement there would be a 24-hour strike on thursday when the summit begins in brussels so in athens all of the public sector unions will take to the streets again which could affect markets. the other major thing we had the beginning of the session when we came here 6:00 a.m. at the new york stock exchange the banks were flying high in europe but faded into the close. lloyd's banco popular, up 2%, 3%, 5% but sunk back down. the reason they were higher a major reweighting from deutsche bank, one of the biggest operators within europe suggesting now is the time for europe to enter tactically positive and
first let's have a look at the map as we count you out on the close, greece is higher, greece on the bottom right-hand corner, 30.2% gain. everybody else is in the red. here are some of the movers of the day. might be from what you got from lagarde in tokyo suggesting greece should be given more time. hel helenic and national bank of greece in positive territory. the reason you have the outperformance is because they fell so hard earlier in the week. in fact the ase as we got the announcement...
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Oct 22, 2012
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since then, greece is up 65%. now, i'm looking at asia. in asia, thailand from the 2009 lows is up 250%. other markets like the philippines, indonesia, malaysia, singapore, are up by a similar amount. china was at 6,000 index, in 2007 we're at 2000. i think china and japan could have a rebound here. if greece could rebound by 65%, the greatest garbage can rewound by 65%, believe me. i'm not necessarily saying that chinese economy is improving. on the contrary, it's worsening. but you understand the asset al he low indicate as they see this market up and that market down and suddenly money shifts. >> y >> how about here? >> i think here we'll go down 20% from the recent top at 4070. >> why? >> the technical position of the market is poor and the corporate earnings are worsening. and i believe that if the statistics were precise, which they aren't, because if you measure gdp and then you have a price deflator, it depends how you cam could you late the price deflator to determine real gdp growth, i think there's hardly any growth. i'm not deb
since then, greece is up 65%. now, i'm looking at asia. in asia, thailand from the 2009 lows is up 250%. other markets like the philippines, indonesia, malaysia, singapore, are up by a similar amount. china was at 6,000 index, in 2007 we're at 2000. i think china and japan could have a rebound here. if greece could rebound by 65%, the greatest garbage can rewound by 65%, believe me. i'm not necessarily saying that chinese economy is improving. on the contrary, it's worsening. but you understand...
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Oct 26, 2012
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let's start with greece and go to europe proper. do you think the current bailouts and revised bailouts and new bailouts ultimately going to work and save greece? >> i would say the simple answer is now. but you know, the european leaders haven't understood this. they applied the first bailout, and the results were abysmal. unemployment is unprecedented. people have 25% unemployment, their poverty is at the all-time high, and also i have the social conditions that actually deteriorating. there are more suicides, soup kitchens and so on. to answer your question, no, it will not work. i think that the bailout will be passed by the parliament. but when supplied, it's going to give us again abysmal results. something different is needed. >> before we get to what may be needed, let's open to europe proper. we obviously would see what's going on with spain, and you know, yesterday reuters reported that the finance minister in spain said, listen, 95% of my funding needs for the year on done. but then you have the 17 autonomous regions that
let's start with greece and go to europe proper. do you think the current bailouts and revised bailouts and new bailouts ultimately going to work and save greece? >> i would say the simple answer is now. but you know, the european leaders haven't understood this. they applied the first bailout, and the results were abysmal. unemployment is unprecedented. people have 25% unemployment, their poverty is at the all-time high, and also i have the social conditions that actually deteriorating....
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Oct 24, 2012
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>> portugal, greece, well publicized. it's pretty rough. when you look at some of those geographies, it's pretty strong. so it's kind of a balancing act in euroright now. we were flattish in europe in the quarter, and if you look at north america, we're up 37%. i think europe is the more difficult operating environment. >> you're actually able to raise your outlook for revenue. why? >> it's real simple. we have an analytics -- almost three years ago, we sent the company to go on a new strategy to go after the cloud, mobile, and data base that was in memory, so it would be truly a realtime data base in something we invented. these emerging businesses are all growing in triple digits, when you combine that with core, you have a real double digit growth story all across the world. today we reiterated our guidance at the upper end, and we look at our pipelines globally, and the company is in really good shape. i must say, though, there is a structural change in i.t. as well, because a lot of the companies in i.t. that haven't done as well are v
>> portugal, greece, well publicized. it's pretty rough. when you look at some of those geographies, it's pretty strong. so it's kind of a balancing act in euroright now. we were flattish in europe in the quarter, and if you look at north america, we're up 37%. i think europe is the more difficult operating environment. >> you're actually able to raise your outlook for revenue. why? >> it's real simple. we have an analytics -- almost three years ago, we sent the company to go...
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Oct 16, 2012
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. >> what about greece? greece says they're out of money the end of november. >> the market is convinced that it comes through, we keep pushing this forward. the market is really -- if today tells you anything, the market is less concerned about europe. you see that euro and the market is up. >> bob, it hasn't exactly been all hands on deck with this rally today. some notable declines among the gainers today. >> home builders were down. part of the problem was we had the nahb home builder sentiment index that came out at 10:00. it came in right in line with expectations. i think the problem was with all the good news we've been hearing about home building recently and home sales, i think they were expecting a little bit better number. that's one that hasn't really done anything. by the way, financial stocks today. i know citigroup dominates everything, but pnc did better than expected, yet it's down today. that's because it's getting margin compression. that's the same problem wells fargo had. all the region
. >> what about greece? greece says they're out of money the end of november. >> the market is convinced that it comes through, we keep pushing this forward. the market is really -- if today tells you anything, the market is less concerned about europe. you see that euro and the market is up. >> bob, it hasn't exactly been all hands on deck with this rally today. some notable declines among the gainers today. >> home builders were down. part of the problem was we had the...
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Oct 8, 2012
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. >> angela merkel is in greece tomorrow. it's going to be one of the ugliest days ever. it's going to be very tough. have we finally gotting that yoke off the u.s. market? is the ecb taking care of that problem so we can pay attention to u.s. markets? >> no, it just means i'm paying attention to and you you won't ask me anything about greece. >> i know. >> i think what it's saying is right now the ecb has said it's going to be doing what it can. the political leaders are saying, okay, we're going to work our way together to make sure that we can do that. so, i think they are more on the back burner because our presidential election and our earning cycle is really what people are focusing on now. >> michele makes a good point earlier when she talks about apple. it really is, as goes apple, as goes the stock market. that's the way it's worked lately. apple has gone consistently higher as the market has managed to move higher as well. >> it's traditionally always been a stock that's a bellwether stock. general electric at one point was, i mean, there's always a company that
. >> angela merkel is in greece tomorrow. it's going to be one of the ugliest days ever. it's going to be very tough. have we finally gotting that yoke off the u.s. market? is the ecb taking care of that problem so we can pay attention to u.s. markets? >> no, it just means i'm paying attention to and you you won't ask me anything about greece. >> i know. >> i think what it's saying is right now the ecb has said it's going to be doing what it can. the political leaders...
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Oct 8, 2012
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on the fiscal road to greece? we'll ask the architect of greece's debt deal. >>> but first, more street signs with brian. >>> and by the way, we talked about iowaway on t about huawei. thant view vp of external affairs. >>> brian schactman is live at a new casino in columbus, ohio. >> it is true, brian, at least in the near term it is absolutely true. about half the country is on-board with adding casinos. it's become an easy way to generate tax revenue and jobs. the number is sure to grow. here at the hollywood casino in columbus, ohio, they opened their doors up a couple hours ago. they've already had at least 12,000 people come through their doors and roughly one-third of everything they spend will return to the state, city and county governments in taxes. now i spoke with the chief operating officer of penn gaming which actually runs this casino. he said it shouldn't be difficult to figure out why there's such a rush to welcome in gaming. all you have to do is look at history. >> we've seen a growth early 90s
on the fiscal road to greece? we'll ask the architect of greece's debt deal. >>> but first, more street signs with brian. >>> and by the way, we talked about iowaway on t about huawei. thant view vp of external affairs. >>> brian schactman is live at a new casino in columbus, ohio. >> it is true, brian, at least in the near term it is absolutely true. about half the country is on-board with adding casinos. it's become an easy way to generate tax revenue and...
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Oct 5, 2012
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greece is a problem. yes spain is still a problem. those will be negotiated in the next couple of weebs and will temper. >> hat are your levels on the euro? >> the euro at this point is pretty much at the top of its range. i don't want to trade it. what i do want to trade is dollar/yen. i like it a lot. employment report today was a "game change"er as far as dollar/yen goes. it's been one of the toughest currency trades. broken so many hearts of currency laws. but it's breaking out from its bottom. i want to be a buyer of dollar/yen on the assumption the u.s. economy is starting to starting to move up. now in honor of the end of the baseball season, it seems to be the straw that stirs the drink in honor of reggie jackson. i think if we continue momentum to the up side, dollar/yen has a chance to go to 80 which is a very key level. if you clear that, you have a move all the way up to 83. to me a buy at 79 with a stop at 77.50, first target of 80, then possibly 83 is an interesting trade off of today's nfp numbers. >> catch more currenc
greece is a problem. yes spain is still a problem. those will be negotiated in the next couple of weebs and will temper. >> hat are your levels on the euro? >> the euro at this point is pretty much at the top of its range. i don't want to trade it. what i do want to trade is dollar/yen. i like it a lot. employment report today was a "game change"er as far as dollar/yen goes. it's been one of the toughest currency trades. broken so many hearts of currency laws. but it's...
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Oct 5, 2012
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. >> so peter, on tuesday we're going to see angela merkel in greece. there's going to be horrendous protests, tear gas. we can just imagine. yet, we're going to be able to look through that and focus on the domestic earnings front here? >> the greek stock market was up 12% this week. the bond that's maturing at 11 years is at a high. i think everyone's beginning to it realize that greece is going to be given some slack because there's no other choice right now. >> in other words, it won't matter as much as the u.s. market. >> doug, we keep talking about the fact that the fed is impacting the markets. what's your take on this? could you give us some quantity of what the s&p 500 would be at if the fed wasn't intervening in the markets. >> you know, i mean, market's at 13 times earnings. it's not like we have some human premium built in because of the fed. the better question is, if you believe what you say, which is the fed's moving the market up, then there's a global conspiracy against people who have their money in cash and bonds. because in the end,
. >> so peter, on tuesday we're going to see angela merkel in greece. there's going to be horrendous protests, tear gas. we can just imagine. yet, we're going to be able to look through that and focus on the domestic earnings front here? >> the greek stock market was up 12% this week. the bond that's maturing at 11 years is at a high. i think everyone's beginning to it realize that greece is going to be given some slack because there's no other choice right now. >> in other...
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Oct 21, 2012
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i caught up with her in tokyo about economics and tax rates in france and austerity measures in greece. >> the country be back on track, the country be able to reaccess market. if we put upon them obligations that they simply cannot deliver on because it's too hard and too much, the program is not going to be credible. so our position is that we would rather have a program that is difficult -- it's going to be so difficult that it is not credible. >> and unrealistic. i guess there's a balance to walk, growth and stimulus versus sauce terty. >> for the moment there is still tax consolidation to be had and struck toural reforms to integ great and a revenue to collect. that's what's on the agenda. >> you have complimented the efforts and central banks around the world providing stimulus. when is it too much? what is your opinion in terms of all of this free money and stimulus coming from so many central banks around the world? can you keep doing that or do you need fiscal policy at some point to replace the monetary policy changes? >> i think one cannot replace the other and it works both
i caught up with her in tokyo about economics and tax rates in france and austerity measures in greece. >> the country be back on track, the country be able to reaccess market. if we put upon them obligations that they simply cannot deliver on because it's too hard and too much, the program is not going to be credible. so our position is that we would rather have a program that is difficult -- it's going to be so difficult that it is not credible. >> and unrealistic. i guess there's...
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Oct 25, 2012
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greece has gone from 180% to 120% debt-to-gdp ratio. >> because it can't possibly support the debt story. >> exactly. >> as you look around, whether it's britain or the continent, is there any hope? are there any positive signs? >> just today there's actually several. just today we had the uk report that its economy expanded in the third quarter. it was a surprise. gave people some sense -- >> how much? >> .4%, if i recall. that followed an earlier contraction. there's been a lot of confusion over the data because the employment figures have been much stronger than the output figures. maybe the economy isn't as weak as expected. then flip over to europe where the macro situation is grim, there's a sense the stock market has priced a lot of this in. >> euro stocks have been doing well, to be fair. >> exactly. because that's when you get -- this is an issue both for europe and for the u.s. if we're not in a 2008-2009 period, what exactly are we in? it's a complicated question from an investing point of view. it's easy to rattle off the weakness we're seeing in the talk of europe being thro
greece has gone from 180% to 120% debt-to-gdp ratio. >> because it can't possibly support the debt story. >> exactly. >> as you look around, whether it's britain or the continent, is there any hope? are there any positive signs? >> just today there's actually several. just today we had the uk report that its economy expanded in the third quarter. it was a surprise. gave people some sense -- >> how much? >> .4%, if i recall. that followed an earlier...
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Oct 11, 2012
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four will be interviewed soon by the fbi, including the most senior guy who will be interviewed in greece. making a criminal case, however, could be tough. bad intentions can often be hard to prove, and then there's the issue of nationalalty. two of the former traders are french. one is believed to be a greek citizen, the other spanish. whether the traders can be extradited from europe and their various countries of citizenship remains unclear. back to you, guys. we don't know how this is going to unfold. >> they had recordings of phone calls still on file. >> absolutely. you know what this proves, kate? every financial crisis story returns to greece. >> it does. >> is there going to be a greek yogurt scandal sometime soon? one quick interesting thing is that jpmorgan has reviewed these materials. they did say something telling on july 13th. we'll see what they say tomorrow in earnings. at the time say said we don't have confidence in the integrity of these marks. that certainly left over the question there was intentional fraud here. it's a long way to see what the regulators do. >> than
four will be interviewed soon by the fbi, including the most senior guy who will be interviewed in greece. making a criminal case, however, could be tough. bad intentions can often be hard to prove, and then there's the issue of nationalalty. two of the former traders are french. one is believed to be a greek citizen, the other spanish. whether the traders can be extradited from europe and their various countries of citizenship remains unclear. back to you, guys. we don't know how this is going...
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Oct 15, 2012
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over the weekend merkel was suggesting greece should be given another chance. today she said there should be no uncontrollable events within the eurozone. we'll wait and see what they deliver for greece and, of course, there's a discussion about how they can juggle the debt further. what is interesting is the degree to which people continue to make money from this dovishness, if you like, that we're now getting from the germans and the greek stock market moving higher again today. we're now at a gain of 34% over the last two months. in tokyo over the weekend, of course, to carl's point, they failed to coordinate a big operation to sort things out. but what is apparent from the reporting that we've got from reuters is that certainly the eurozone would like spain to ask for a bailout in november in order that it can be bundled with helping cyprus and with also helping some of the other parts of europe to get them kind of going through the particlements at one time if you like because that certainly would help the situation in germany. they are pointing about a no
over the weekend merkel was suggesting greece should be given another chance. today she said there should be no uncontrollable events within the eurozone. we'll wait and see what they deliver for greece and, of course, there's a discussion about how they can juggle the debt further. what is interesting is the degree to which people continue to make money from this dovishness, if you like, that we're now getting from the germans and the greek stock market moving higher again today. we're now at...
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Oct 9, 2012
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ge german chancellor said greece was going to stay in the european union. i recogard her statements as bullish. >> i think we have the tools in place. had we've seen these things in place a year ago, germany is going to get these things sorted. >> that is a great point. >> stephanie, you think there is something out there that ip v t investors missed that would be bull issish bullish. they continue to stimulate their economy. they announced the liquidity program and this comes weeks after the largest in history. it began in june. so, i think this coupled with the rrr cuts with the interest rate cuts that we have seen this year, i think you are going to see a stableation in china and the 7.8% growth in china, maybe it is actually pretty accurate. >> larry, following up on that. we had young brands and they had very strong numbers. so, there is another support point that china seems to be stableising. it takes away the thought that it is falling apart in china. and kind china has been improvie consumer part. >> doesn't the whole world know that easternings wi
ge german chancellor said greece was going to stay in the european union. i recogard her statements as bullish. >> i think we have the tools in place. had we've seen these things in place a year ago, germany is going to get these things sorted. >> that is a great point. >> stephanie, you think there is something out there that ip v t investors missed that would be bull issish bullish. they continue to stimulate their economy. they announced the liquidity program and this comes...
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Oct 1, 2012
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you just have to bear with me if i make another freudian slip on greece versus spain. but right now, what we heard from the government over the weekend was that their deficit will be on target at 6.3%. but if you include the bank aid as you mentioned, 7.4%. they did make great pains to point out that european commission officials have not asked them to make any adjustments to reduce that number, but the question has to be asked what happens if they don't meet the deficit target of 6.3%. many analysts are expecting them to come in around 7% in terms of the target for this year. day take last week actually showed that the central government deficit came in just around 4.3% up to august. how, the full year target is 4.5% and then we're not even bringing in the regions. historical data suggests the situation doesn't tend to improve into year end, so we could be in a situation perhaps where if we see a request from aid from spain over the next month or so, we bear in mind the fact that we've got two elections coming up in the regions, too, they could be almost in terms of t
you just have to bear with me if i make another freudian slip on greece versus spain. but right now, what we heard from the government over the weekend was that their deficit will be on target at 6.3%. but if you include the bank aid as you mentioned, 7.4%. they did make great pains to point out that european commission officials have not asked them to make any adjustments to reduce that number, but the question has to be asked what happens if they don't meet the deficit target of 6.3%. many...
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Oct 10, 2012
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they were pushing greece out of the way, now pushing spain out of the way to deal with greece more imminently. >> a lot to watch this week. we thought merkel brought a lot of these yesterday, there's more today. >>> let's get a capital markets op-ed, gary back at hq talking about closet indexing. >> we haven't talked about closet indexing in quite some time. you know i normally carry two blackberries, here it is, iphone 5. this is probably the best contrary indicator there is in terms of the stock the fact i have an iphone 5 now. i do want to talk about apple. we have talked about months and months about the relative underperformance about not having a weighting in apple. here's where things stand. and thanks to a good friend up in scranton, pennsylvania, who sits around and scrubs these numbers, he comes out with 623 million shares held by institutions. the growth funds, those are the funds that have trying to closet index and made sure they have the market weighting in apple. we could've picked two, but i wanted to pick one big and one small. we've got fidelity fund. there's discovery fund,
they were pushing greece out of the way, now pushing spain out of the way to deal with greece more imminently. >> a lot to watch this week. we thought merkel brought a lot of these yesterday, there's more today. >>> let's get a capital markets op-ed, gary back at hq talking about closet indexing. >> we haven't talked about closet indexing in quite some time. you know i normally carry two blackberries, here it is, iphone 5. this is probably the best contrary indicator there...
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Oct 23, 2012
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we have to decide on greece, spain, as well. and then, of course, china and the u.s. will select new leaders. we should go out with a rally. >> you talk about the areas that push us higher. one is materials and the other is financial. is there anything specific you can point to in the financials? you are talking about money center banks or regional banks. can you be more specific on which ones? >> banks with the clearing of the housing market should do well with loan growth just in time because net interest margins have compressed. as far as materials go we look for copper and iron ore because china has to do stimulus programs to continue fixed investment gdp to make room for restructuring in 2013 and beyond. and the euro requires them to get their financial house in order and some of the capital flight to come back. >> 138. most people watching i hope you are right with the call for 1,600 for the year. barry banister joining us there. the selloff of the corporate level on monster beverage deepened. it has lost basically a quarter of its market capitalization in two d
we have to decide on greece, spain, as well. and then, of course, china and the u.s. will select new leaders. we should go out with a rally. >> you talk about the areas that push us higher. one is materials and the other is financial. is there anything specific you can point to in the financials? you are talking about money center banks or regional banks. can you be more specific on which ones? >> banks with the clearing of the housing market should do well with loan growth just in...
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Oct 2, 2012
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the message is that it's really difficult for the germans to say, hey, these three separate times on greece, cypress and perhaps on spain particularly after they've just received the banking bailout. the biggest shift seem to be in perhaps the spanish sentiment in this article that they're ready to ask as early as this week. so critical to him. they have to think of a bailout and also the enhanced credit line. it doesn't really make a distinction between the two. but of course the budget that we got at the end of last week suggested that they were laying the foundations of course for aid and of course one analyst pointed out it read like an understanding, if it's a delaying tactic, it's a dangerous one. suggests we could see reduction in access to the financing markets. they have just under 30 billion euros to refinance this month. and of course wen was in madrid yesterday speaking in a press conference, he as you mentioned said that there was going to be no bailout. he also said all the countries on the eurozone understand the conditionality, it's just a case of perhaps stepping forward. h
the message is that it's really difficult for the germans to say, hey, these three separate times on greece, cypress and perhaps on spain particularly after they've just received the banking bailout. the biggest shift seem to be in perhaps the spanish sentiment in this article that they're ready to ask as early as this week. so critical to him. they have to think of a bailout and also the enhanced credit line. it doesn't really make a distinction between the two. but of course the budget that...
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Oct 5, 2012
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there are no hotels in greece that are chain hotels because they won't allow them. >> unions or something? >> there's a national law whatever. >> that is stupid. you're right. >> that other hotel owners have to allow a new hotel to be built. they're old and they've been there for years. you can't build a hotel there unless you kiss a lot of feet and do a lot of whatever. >> that is wrong. >> john is our guest host today. we'll have more insights from him as we continue, john taylor. >>> joe has stocks to watch ahead of this, the open on wall street and september jobs report. "squawk" will be back after this. >>> do you like "squawk box"? do you like facebook? well, you'll love "squawk box" on facebook. next week, we launch our official facebook page, "like" the show page and get updates, interviews, pictures and more. "squawk box" on facebook, kicks off monday. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because person
there are no hotels in greece that are chain hotels because they won't allow them. >> unions or something? >> there's a national law whatever. >> that is stupid. you're right. >> that other hotel owners have to allow a new hotel to be built. they're old and they've been there for years. you can't build a hotel there unless you kiss a lot of feet and do a lot of whatever. >> that is wrong. >> john is our guest host today. we'll have more insights from him as...
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Oct 8, 2012
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today more anti-austerity protests in greece. this time pensioners hitting the streets of athens to protest planned income cuts. the demonstrations come one day ahead of chancellor of germany, angela merkel's first visit to groois since the european crisis began and that should be interesting getting into tomorrow and wednesday. >>> let's bring in miss plus for a look at what's going on. >> 2-1 declining to advancing stocks. we tend to be done. there's a reason we talk about europe. i want to point out they are all gathered all the finance ministers. as carl mentioned the bailout fund is now in existence here. they are all talking about this bailout funding existence. he had the best line. nobody is in a party mood here but i'm less pessimistic for the eurozone than in the spring. this bailout fund is a clear instrument for dealing with some of this crisis. heaven knows if it's enough. most think it's won't be enough. for the moment they are feeling better. that's why our markets tend to do better here. let's look at this correla
today more anti-austerity protests in greece. this time pensioners hitting the streets of athens to protest planned income cuts. the demonstrations come one day ahead of chancellor of germany, angela merkel's first visit to groois since the european crisis began and that should be interesting getting into tomorrow and wednesday. >>> let's bring in miss plus for a look at what's going on. >> 2-1 declining to advancing stocks. we tend to be done. there's a reason we talk about...
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Oct 17, 2012
10/12
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a general strike in greece is set to take place tomorrow. spanish yields have fallen to their lowest since early april. this morning, the ten-year down to 10.57. joining us is bill blaine, been talking for a couple weeks about how the big event was going to be moody's. we thought they'd go sub investment grade. the fact that they haven't is clearly causing a reaction. what's going on now? >> it's been very interesting to see what this has done. it's changed the perception of so many international investors who have to follow indexes. spain remaining investment grade. only just, but still avoiding junk. >> still a negative outlook. >> but the fact that it is there, that's caused many of the accounts, the big investors who are sitting on the side saying okay, we know that spain has rallied. we've missed that rally. we're not going to get involved because we fundamentally doubt spain, but now this affirmation coming in means they have all had to go oh dear, capitulation, catch-up time. >> are they choosing to, or do they have to? >> if they wan
a general strike in greece is set to take place tomorrow. spanish yields have fallen to their lowest since early april. this morning, the ten-year down to 10.57. joining us is bill blaine, been talking for a couple weeks about how the big event was going to be moody's. we thought they'd go sub investment grade. the fact that they haven't is clearly causing a reaction. what's going on now? >> it's been very interesting to see what this has done. it's changed the perception of so many...
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Oct 1, 2012
10/12
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in our headlines on this monday morning, greece's finance minuter it is set to submit its 2013 draft budget to parliament today, this comes as the government resumes negotiations with that so-called troika ka, the imf, ecb and the european commission. the troika has to sign off on a proposed two-year austerity package in order for greece to receive more bailout loans. >>> a crucial vote for boeing's engineers and technicians. 23,000 workers are expected to vote down an offer which they say erodes pay and analy. >>> "transylvania" had the biggest opening ever. >>> and julia boorstin had the opportunity to speak with facebook's sheryl sandberg. >> to make wall street happy all of the eyeballs and relationships with brands have to translite into more, that he's just what sandberg is working on. last thursday the company announced facebook gifts, that's the company's first move into e-commer e-commerce. facebook is concentrating on search and something brand new, selling brands and services like analytics and customer service. >> as we increase our investment in monetization, we're think
in our headlines on this monday morning, greece's finance minuter it is set to submit its 2013 draft budget to parliament today, this comes as the government resumes negotiations with that so-called troika ka, the imf, ecb and the european commission. the troika has to sign off on a proposed two-year austerity package in order for greece to receive more bailout loans. >>> a crucial vote for boeing's engineers and technicians. 23,000 workers are expected to vote down an offer which they...
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Oct 2, 2012
10/12
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we have to keep an eye on what's happening in greece. day two of the haggling today at the european commission, the ecb, the imf members have to fight past -- not fight past but navigate protests outside the ministry as they continue to debate -- whether greece is doing enough structurally or not. they have to get a deal ideally on the budget next week when the finance ministers from the rest of europe meet. they're attempting to go through. who wants that job past the protesters to argue with greeks whether they have another 2 billion on the austerity. those talks continue. it's important to point out and sometimes it's difficult and it's the real world getting information out of greece as to what's happening. i'll show you the price action on greek stocks, and they are higher. some of the big blue chips moved higher and some banks moved higher today. i can't tell you why, but i can put the two events, the meeting and the stock market price action side by side and say that's the market close. back to you. >> good stuff, simon. thanks a
we have to keep an eye on what's happening in greece. day two of the haggling today at the european commission, the ecb, the imf members have to fight past -- not fight past but navigate protests outside the ministry as they continue to debate -- whether greece is doing enough structurally or not. they have to get a deal ideally on the budget next week when the finance ministers from the rest of europe meet. they're attempting to go through. who wants that job past the protesters to argue with...
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Oct 16, 2012
10/12
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another conversation about how they'll rescue greece and spain. you can tell the market wants clarity on all of these issues. so when it gets it, we get -- >> if you're a long term investor and you see the march to new all-time highs, if we have a couple more 100 point plus days, we'll be there. so as the individual investor, do you get in now? >> you get the opportunity to buy it a little cheaper. not much. >> 3% is all we can manage. >> so if the market moves higher you can people will feel like they're missing the boat and they will jump on. but you have to be patient. >> and you need comfort food. meatloaf tonight. >> i love meatloaf. >> let's head to the nasdaq. we have a significant gain in the nasdaq, as well. >> thanks in part to apple. shares close to $650. but also overshadowing news from rival microsoft. microsoft announcing that it's taking pre-orders on its surface tablet which will compete with the ipad. same size, but 100 bucks less. meantime chips are the best performers today ahead of intel's news this afternoon. we'll get that ea
another conversation about how they'll rescue greece and spain. you can tell the market wants clarity on all of these issues. so when it gets it, we get -- >> if you're a long term investor and you see the march to new all-time highs, if we have a couple more 100 point plus days, we'll be there. so as the individual investor, do you get in now? >> you get the opportunity to buy it a little cheaper. not much. >> 3% is all we can manage. >> so if the market moves higher...
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Oct 18, 2012
10/12
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i don't know, we're in greece. and sula's house of history. two booming brothels in a debt stricken country where prostitution is legal. accepting cash from funeral homes and feta cheese factories. >> let's do a public service announcement. if you're thinking of switching to the yankee game, don't, they're losing. stay here. >> tim? >> i have to stay out of this one, this is where i usually put my foot in my mouth, i'm out. out. >>> after hours action keeps coming. we're trading. and we're also taking on the company run by one of america's most controversial ceo's. stick around to get that trade next on fast. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> in a recent presentation, your
i don't know, we're in greece. and sula's house of history. two booming brothels in a debt stricken country where prostitution is legal. accepting cash from funeral homes and feta cheese factories. >> let's do a public service announcement. if you're thinking of switching to the yankee game, don't, they're losing. stay here. >> tim? >> i have to stay out of this one, this is where i usually put my foot in my mouth, i'm out. out. >>> after hours action keeps coming....
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Oct 4, 2012
10/12
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it is the one sector that's completely impervious to greece, to china, to fiscal cliff. all of these things are not going to matter. the bigger picture is that people spending more and more on health care as they age and look at the way the stocks act. i'm give you one in particular in addition to the it. merck. it's paying a huge dividend. this is the success tore that you want to look for buys in in my opinion. not laggards or industrials or nonsensitive stocks. >> you heard adami. let's bring in ed yar denis, president of yar denis research. welcome back to halftime. good to have you on the show. >> they think we're going higher. what do you think? >> the bulls market really has been a series of relief rallies followed by fall-offs with considers that we're about to have an apocalypse. . you get the drift. when we worry that things are going to fall apart and suddenly maybe they're not going to fall apart imnemtly, the markets go up. we had the fiscal cliff which may very well be postponed until the middle of next year. we have the euro mess that's now being cleaned u
it is the one sector that's completely impervious to greece, to china, to fiscal cliff. all of these things are not going to matter. the bigger picture is that people spending more and more on health care as they age and look at the way the stocks act. i'm give you one in particular in addition to the it. merck. it's paying a huge dividend. this is the success tore that you want to look for buys in in my opinion. not laggards or industrials or nonsensitive stocks. >> you heard adami....
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Oct 17, 2012
10/12
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perhaps italy, greece, spain all getting a bailout at one time. that may be the catalyst. most importantly, we have really improving economic numbers, or at least housing numbers which is a big part of the recovery. we have said for a while the big risk is people aren't pricing in a better economy. >> jim cramer said stocks sell on the micro and rise on the macro. ibm is a giant corporation, disappointing. if you believe the theory, there must be something to brian's point bigger and better that we are missing. >> i think to your point it's the most hated rally. nobody believes it. one reason is it shouldn't be easy enough where the fed tells you to get into the stock market and they get into the stock market. 1425, we pointed it out a number of times. we push toward 15 and a quarter. if you are looking for a catalyst it comes in the form of spain raising their hand. they have seen overtones or interludes toward that. that's where the next catalyst is. >> you touchdown on it. the fed telling you to get into riskier assets. >> is the fed telling you to get into assets? >> f
perhaps italy, greece, spain all getting a bailout at one time. that may be the catalyst. most importantly, we have really improving economic numbers, or at least housing numbers which is a big part of the recovery. we have said for a while the big risk is people aren't pricing in a better economy. >> jim cramer said stocks sell on the micro and rise on the macro. ibm is a giant corporation, disappointing. if you believe the theory, there must be something to brian's point bigger and...
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Oct 24, 2012
10/12
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if you look at the rolls, they're up in retail sales, and in broad sentiment, it's about greece. mild indirect with greed because of asset reflation. >> good luck in the marathon. >> thank you, i'll need it. >> jpmorgan, private bank. >>> we're also watching oil on the back of yesterday's dive. right now checking how owl prices are performing. west texas crude has dropped more than 10% in the last two months. jeff kilberg says this is oil's last leg down before shooting back higher? >> that's what i see, sue. we did see those inventories. that was that knee-jerk reaction that cracked $85 in wti. like you were talking about earlier, the china-pmi flash, some better economic. the qe data we're about to hear, this is like the bottom of crude. i like to play that around this $31 level. the stop underneath at $28.50. i think there is room to the up side as we will see crude oil go back up to $100. yes, $100 by the end of the year, sue. back to you. >> yikes! yikes, jeff. thank you very much. see you in just a little bit. >>> the threat of state sponsored cyber terror is strike beingal
if you look at the rolls, they're up in retail sales, and in broad sentiment, it's about greece. mild indirect with greed because of asset reflation. >> good luck in the marathon. >> thank you, i'll need it. >> jpmorgan, private bank. >>> we're also watching oil on the back of yesterday's dive. right now checking how owl prices are performing. west texas crude has dropped more than 10% in the last two months. jeff kilberg says this is oil's last leg down before...